Monday, May 3, 2010

Cotendo Raises $12 Million for Site Acceleration

Cotendo, a start-up based in Sunnyvale, California, secured $12 million in new venture funding for its site acceleration service. Cotendo's CDN and Site Acceleration Suite includes high-performance acceleration of dynamic and static content, intelligent load balancing, performance monitoring, real-time reporting, etc.

The company's proprietary software acts as a "pump" to speed the delivery of small objects on website. This approach accelerates performance of high-volume transactional sites, such as eCommerce, social networking, etc. Unlike other content delivery networks offering site acceleration services, Cotendo has not focused on the video aspect of content distribution but rather on the smaller static and dynamic parts.

The new funding round was led by Tenaya Capital and joined by its current investors -- Sequoia Capital and Benchmark Capital. The company plans to use the money to scale its domestic and international service, as well as accelerate the development of new technology.

Cotendo recently opened a local presence in France and Germany. In addition, the company has added several new customers to its rapidly growing US customer roster in the last few months. These include Digg, Meebo, Payoneer and Adbrite.